Clear Channel Communications Inc's outdoor advertising business is in talks with lenders to raise as much as $2.5 billion in the high-yield market, the Wall Street Journal reported, citing people familiar with the matter.

A deal will likely come in the next two weeks, though the timing and the size remains uncertain, the paper said.

Clear Channel was not immediately available for comment outside regular U.S. business hours.

Clear Channel was acquired last July in a $17.9 billion takeover by private equity funds Thomas H. Lee Partners and Bain Capital.

(Reporting by Santosh Nadgir in Bangalore, editing by Will Waterman)

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